Interest rates go up... but will it fix inflation?

The Reserve Bank of Australia has lifted the official cash rate by 50 basis points, the fifth consecutive increase in a row. For the past decade - a generation of borrowers were experiencing falling or steady interest rates - but now - they've been hit with a succession of rate rises. With many Australian families already feeling the constraints of cost of living pressures, the R-B-A's announcement packs an extra pinch.

dall’Australian Securities and Investments Commission (ASIC) releases new guidelines Source: Pixabay